06-14-2018, 07:16 PM
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#1
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Powerplay Quarterback
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What to do with old coins
I inherited a lot of Canadian coins, mainly from the 40's-60's. I divided them up by coin and decade watching out for a few specific coins that are worth a lot (unfortunately I don't have any of those). But I'm not sure what to do with them all.
Many of the older coins are made of silver so have a higher melt value then their face value. So I don't want to just give them to the bank at face value. Nor do I really want to sell them online because that will take forever. Could I get them melted down? But then what do I do with a bar of silver?
Last edited by shane_c; 06-14-2018 at 07:24 PM.
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06-14-2018, 07:18 PM
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#2
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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Quote:
Originally Posted by shane_c
I inherited a lot of Canadian coins, mainly from the 40's-60's. I divided them up by coin and decade watching out for a few specific coins that are worth a lot (unfortunately I don't have any of those). But I'm not sure what to do with them all.
Many of the older coins are made of silver so have a higher melt value then their face value. So I don't want to just give them to the bank at face value. Nor do I really want to sell them I online because that will take forever. Could I get them melted down? But then what do I do with a bar of silver?
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Put it on Black?
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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06-14-2018, 07:37 PM
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#3
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Franchise Player
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Two socks. Two bikes. Fill socks with coins. Joust in the street in front of your house.
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06-14-2018, 07:55 PM
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#4
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Powerplay Quarterback
Join Date: Sep 2012
Location: The Honkistani Underground
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Quote:
Originally Posted by shane_c
Many of the older coins are made of silver so have a higher melt value then their face value. So I don't want to just give them to the bank at face value. Nor do I really want to sell them online because that will take forever. Could I get them melted down? But then what do I do with a bar of silver?
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I'll take any pre-'67 dollars and half dollars you have
The coins aren't pure silver, so melting them isn't that straight forward. You need some chemistry to separate the silver from the copper and nickel.
__________________
"If you do not know what you are doing, neither does your enemy."
- - Joe Tzu
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06-14-2018, 08:10 PM
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#5
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Franchise Player
Join Date: Jun 2004
Location: Calgary
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In my attempt to be captain buzzkill i shall point out melting down coins is a violation of the Currency Act and the Canadian Criminal Code.
Not that anyone's gonna bust you.
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06-14-2018, 08:16 PM
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#6
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Lifetime Suspension
Join Date: Apr 2013
Exp:
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Save them to pass on to a son or daughter. Might not be worth much know but maybe it will be to the next generation
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06-14-2018, 08:22 PM
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#7
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Some kinda newsbreaker!
Join Date: May 2004
Location: Learning Phaneufs skating style
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1. Go to Vegas and bring said coins.
2. Get on Pawn Stars.
3. Ask for $10 000
4. When the expert comes in and says they are worthless make a scene
5. Enjoy your 15 mins of fame and time in Vegas.
6. Pour the coins into slot machines to hopefully pay for your flight back home.
Last edited by sureLoss; 06-14-2018 at 08:25 PM.
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06-14-2018, 10:40 PM
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#9
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#1 Goaltender
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You can sell the ones with silver in them to Albern Coins. They pay a fair price in my opinion, although I haven't taken any in for a few years, I expect that they still do.
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06-14-2018, 11:36 PM
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#10
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Franchise Player
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Quote:
Originally Posted by Oil Stain
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Pennies on the bar top, wires sticking out of the wall, cover plates missing, that must be in edmonton.
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06-15-2018, 12:14 AM
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#11
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Acerbic Cyberbully
Join Date: Aug 2003
Location: back in Chilliwack
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Quote:
Originally Posted by Jacks
Pennies on the bar top, wires sticking out of the wall, cover plates missing, that must be in edmonton.
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I'm pretty sure that is a concrete floor.
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06-15-2018, 12:15 AM
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#12
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Franchise Player
Join Date: Apr 2004
Location: I don't belong here
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Quote:
Originally Posted by Oil Stain
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There's always money in the banana stand bar
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06-15-2018, 04:11 PM
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#13
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Powerplay Quarterback
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Quote:
Originally Posted by Dan02
In my attempt to be captain buzzkill i shall point out melting down coins is a violation of the Currency Act and the Canadian Criminal Code.
Not that anyone's gonna bust you.
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Thanks for keeping me out of jail. Appreciate it!
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06-15-2018, 04:36 PM
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#14
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Franchise Player
Join Date: Apr 2003
Location: Not sure
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Quote:
Originally Posted by shane_c
But then what do I do with a bar of silver?
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Make some silver bullets. Always thought that'd be kinda cool.
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06-16-2018, 08:33 AM
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#15
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Franchise Player
Join Date: Jul 2005
Location: SW Ontario
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All old coins are absolute worthless junk, just PM me and I will get rid of them for you at no cost!
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06-16-2018, 11:14 AM
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#16
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Offered up a bag of cans for a custom user title
Join Date: Oct 2008
Location: Westside
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Quote:
Originally Posted by meritmat
Save them to pass on to a son or daughter. Might not be worth much know but maybe it will be to the next generation
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Not sure if this is actually true. Over time, more people who have no interest in coins (see this thread for proof) inherent collections, which wind up on the market, increasing supply, decreasing demand.
There are coins stores that might be interested in a bulk purchase of the entire collection. Don't think you are getting book value for anything, expect 60% for rare items. A bulk sale might net you 40%. The internet has really flatlined many collecting hobbies because you can simply buy what you want, and sellers have to compete to make a sale.
Coin collecting isn't as huge anymore. Collectors only want the best of the best. Similar to sports cards. They make fun hobbies for parents/kids, as there are lessons to be learned. For that reason, share with family or friends.
I am not really a 'coin collector', but am a collector. On occasion I buy roman coins, shipwrecks, etc. Anything really really old. There is something I find amazing holding something so old. I doubt I make money off them, ever.
Last edited by Nage Waza; 06-16-2018 at 11:19 AM.
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06-16-2018, 11:14 AM
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#17
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Franchise Player
Join Date: Oct 2010
Location: Barnet - North London
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Quote:
Originally Posted by dissentowner
All old coins are absolute worthless junk, just PM me and I will get rid of them for you at no cost!
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People coming together and looking out for each other.
This is what I love about CP.
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06-16-2018, 11:16 AM
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#18
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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Have you considered just driving around the City and throwing them at the homeless?
Or you probably just donate them to the homeless in a less violent manner, but you do you.
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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06-16-2018, 12:23 PM
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#19
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Franchise Player
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Quote:
Originally Posted by Nage Waza
Not sure if this is actually true. Over time, more people who have no interest in coins (see this thread for proof) inherent collections, which wind up on the market, increasing supply, decreasing demand.
There are coins stores that might be interested in a bulk purchase of the entire collection. Don't think you are getting book value for anything, expect 60% for rare items. A bulk sale might net you 40%. The internet has really flatlined many collecting hobbies because you can simply buy what you want, and sellers have to compete to make a sale.
Coin collecting isn't as huge anymore. Collectors only want the best of the best. Similar to sports cards. They make fun hobbies for parents/kids, as there are lessons to be learned. For that reason, share with family or friends.
I am not really a 'coin collector', but am a collector. On occasion I buy roman coins, shipwrecks, etc. Anything really really old. There is something I find amazing holding something so old. I doubt I make money off them, ever.
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Where the hell do you store a shipwreck?
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06-16-2018, 12:37 PM
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#20
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Lifetime Suspension
Join Date: Apr 2013
Exp:
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Quote:
Originally Posted by Fuzz
Where the hell do you store a shipwreck?
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Shipwreck coins. Lots of coins from various shipwrecks
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